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Last checked at 
17 Apr 2023 08:08
ECR MINERALS plc
(“ECR Minerals” or the “Company”)
Issue of Options
ECR Minerals plc (LON:ECR), the exploration and development company focused on gold in Australia, is pleased to announce that it has today issued new options (“New Options”) over 68,100,000 ordinary shares in the Company, to senior employees and certain directors / PDMRS of the Company.
The new options will be valid for five years. They will be issued in three equal tranches and are priced at 1p, 2p and 3p. Exercise of each tranche of the New Options is conditional on the Volume Weighted Average Price of the shares for 14 days being equal to or higher than the relevant exercise price prior to exercise. Exercise of the options is also dependant on the relevant director or employee still being employed by the Company at the time of exercise.
The Directors and PDMRs receiving shares are as follows:
Name of Director / PDMR | No. of New Options | Tranche 1: 1p Options | Tranche 2: 2p Options | Tranche 3: 3p Options | Total Options Held* |
David Tang (Chairman) | 6,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 16,000,000 |
Adam Jones (Director) | 12,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 17,000,000 |
Andrew Scott (NED) | 6,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 21,000,000 |
Andrew Haythorpe (CEO) | 33,000,000 | 11,000,000 | 11,000,000 | 11,000,000 | 33,000,000 |
*total options held includes options held under prior Option Schemes. More details of these are set out in the Company’s Annual Report and Accounts.
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
“Standard Forms of Notification”
2 | Details of the person discharging managerial responsibilities | |
a) | Name | David Tang |
2 | Reason for the notification | |
a) | Position/status | Chairman & Director |
b) | Initial notification/amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | ECR Minerals plc |
b) | LEI | 213800PBXY96KXHISJ17 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the financial instrument, type of instrument Identification code | ordinary shares of 0.001p each
GB00BYYDKX57 |
b) | Nature of the transaction | Issue of Options |
c) | Price(s) and volume(s) | Price(s) 1p per share 2p per share 3p per share
Volume(s) 2,000,000 2,000,000 2,000,000
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d) | Aggregated information - Aggregated volume - Price |
6,000,000 2p |
e) | Date of the transaction | 17 April 2023 |
f) | Place of the transaction | London Stock Exchange (XLON) |
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1 | Details of the person discharging managerial responsibilities | |
a) | Name | Adam Jones |
2 | Reason for the notification | |
a) | Position/status | Technical Director |
b) | Initial notification/amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | ECR Minerals plc |
b) | LEI | 213800PBXY96KXHISJ17 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the financial instrument, type of instrument Identification code | ordinary shares of 0.001p each
GB00BYYDKX57 |
b) | Nature of the transaction | Issue of Options |
c) | Price(s) and volume(s) | Price(s) 1p per share 2p per share 3p per share
Volume(s) 4,000,000 4,000,000 4,000,000
|
d) | Aggregated information - Aggregated volume - Price |
4,000,000 2p |
e) | Date of the transaction | 17 April 2023 |
f) | Place of the transaction | London Stock Exchange (XLON) |
1 | Details of the person discharging managerial responsibilities | |
a) | Name | Andrew Scott |
2 | Reason for the notification | |
a) | Position/status | Non-Executive Director |
b) | Initial notification/amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | ECR Minerals plc |
b) | LEI | 213800PBXY96KXHISJ17 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the financial instrument, type of instrument Identification code | ordinary shares of 0.001p each
GB00BYYDKX57 |
b) | Nature of the transaction | Issue of Options |
c) | Price(s) and volume(s) | Price(s) 1p per share 2p per share 3p per share
Volume(s) 2,000,000 2,000,000 2,000,000
|
d) | Aggregated information - Aggregated volume - Price |
6,000,000 2p |
e) | Date of the transaction | 17 April 2023 |
f) | Place of the transaction | London Stock Exchange (XLON) |
1 | Details of the person discharging managerial responsibilities | |
a) | Name | Andrew Haythorpe |
2 | Reason for the notification | |
a) | Position/status | CEO |
b) | Initial notification/amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | ECR Minerals plc |
b) | LEI | 213800PBXY96KXHISJ17 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the financial instrument, type of instrument Identification code | ordinary shares of 0.001p each
GB00BYYDKX57 |
b) | Nature of the transaction | Issue of Options |
c) | Price(s) and volume(s) | Price(s) 1p per share 2p per share 3p per share
Volume(s) 11,000,000 11,000,000 11,000,000
|
d) | Aggregated information - Aggregated volume - Price |
33,000,000 2p |
e) | Date of the transaction | 17 April 2023 |
f) | Place of the transaction | London Stock Exchange (XLON) |
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc |
| Tel: +44 (0) 20 7929 1010 |
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David Tang, Non-Executive Chairman Andrew Haythorpe, CEO |
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Email: info@ecrminerals.com |
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Website: www.ecrminerals.com |
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WH Ireland Ltd |
| Tel: +44 (0) 207 220 1666 |
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Nominated Adviser Katy Mitchell / Andrew de Andrade |
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SI Capital Ltd |
| Tel: +44 (0) 1483 413500 |
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Broker |
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Nick Emerson |
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Novum Securities Limited |
| Tel: +44 (0) 20 7399 9425 |
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Broker Jon Belliss |
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Brand Communications |
| Tel: +44 (0) 7976 431608 |
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Public & Investor Relations |
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Alan Green
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ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Queensland, Australia.
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
ECR holds a 90% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230417005414/en/
Copyright Business Wire 2023
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